Mastek slumps on profit booking

Mastek has slumped by nearly 3% at Rs 183.75 on profit booking at higher levels after the company announced good Q3 numbers.

The company's net profit rose 21.9% to Rs 18.30 crore on 1.6% increase in total income to Rs 242.40 crore in Q3 December 2013 over Q2 September 2013.

The company reported EBITDA (earnings before interest taxes depreciation and amortization) of Rs 35.80 crore (14.8% of total income) in Q3 December 2013 compared with Rs 28.90 crore (12.1% of total income) in Q2 September 2013.

The stock has hit a high of Rs 190.60 and a low of Rs 182 so far during the day. The stock has jumped 10.29% in four trading sessions to Rs 188.65 on 23 January 2014, from a recent low of Rs 171.05 on 17 January 2014.

On BSE, so far 28,000 shares were traded in the counter, compared with an average volume of 1.02 lakh shares in the past one quarter.